Saudi Dallah Healthcare pens $29.86mln JV with Siemens Healthcare

The deal is the first of its kind in Saudi Arabia and the region in the medical field

  
Image used for illustrative purpose Nurses walk in the emergency department at Al-Noor Specialist Hospital in Mecca .

Image used for illustrative purpose Nurses walk in the emergency department at Al-Noor Specialist Hospital in Mecca .

REUTERS/Muhammad Hamed

Riyadh – Dallah Healthcare Company has signed a joint venture (JV) with Siemens Healthcare Limited.

The deal is the first of its kind in Saudi Arabia and the region in the medical field, according to the company’s statement to the Saudi Stock Exchange (Tadawul) on Monday.

Both parties are aiming to be in line with the National Transformation Plan in the healthcare sector and participating in achieving the 2030 vision.

Dallah signed a long-term strategic partnership contract with Siemens valued at SAR 112 million to operate and provide technical support for radiology sections in all hospitals that would be appointed to Dallah by private and public sector hospitals and its hospitals.

Moreover, Siemens will provide technical support for Radiology Divisions.

Siemens Healthcare, the mother company for several medical technology companies located in Germany, will provide technical support, developing medical skills and replace current equipment for X-ray divisions for 10 years period.

As for the financial impact, it is considered to be positive as there will be a reduction in the costs of assets and maintenance.

The financial impact of the long-term deal will be reflected in Dallah’s financials of the first quarter of 2020.

Source: Mubasher

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